Morgan Stanley Gives Fitbit (FIT) $4 Target; Invesco Senior Income Trust Has 1.29 Sentiment

Fitbit, Inc. (NYSE:FIT) Logo

Invesco Senior Income Trust (VVR) investors sentiment decreased to 1.29 in Q4 2017. It’s down -0.03, from 1.32 in 2017Q3. The ratio turned negative, as 40 investment professionals increased or started new holdings, while 31 decreased and sold stock positions in Invesco Senior Income Trust. The investment professionals in our database now have: 55.13 million shares, up from 51.97 million shares in 2017Q3. Also, the number of investment professionals holding Invesco Senior Income Trust in top ten holdings was flat from 1 to 1 for the same number . Sold All: 7 Reduced: 24 Increased: 23 New Position: 17.

In a a report issued to clients and investors on 2 April, equity analysts at Morgan Stanley’s equities research division lowered Fitbit (NYSE:FIT)‘s stock from a Equal-Weight to Underweight. They have a target price of $4 on FIT or -21.57% more downside.

Restructuring Capital Associates Lp holds 12.54% of its portfolio in Invesco Senior Income Trust for 4.55 million shares. Rivernorth Capital Management Llc owns 6.20 million shares or 1.89% of their US portfolio. Moreover, Camelot Portfolios Llc has 1.37% invested in the company for 660,318 shares. The Michigan-based Financial & Investment Management Group Ltd has invested 1.29% in the stock. Meridian Investment Counsel Inc., a California-based fund reported 233,884 shares.

The stock decreased 0.23% or $0.01 during the last trading session, reaching $4.4. About 358,446 shares traded. Invesco Senior Income Trust (VVR) has declined 5.77% since April 2, 2017 and is downtrending. It has underperformed by 17.32% the S&P500.

Fitbit, Inc. designs and sells connected health and fitness tracking devices. The company has market cap of $1.22 billion. The firm offers Fitbit Zip, an entry-level wireless activity tracker that allows users to track daily activity statistics, such as steps, distance, calories burned, and active minutes; Fitbit One, a clippable wireless tracker, which tracks floors climbed and sleep, as well as daily steps, distance, calories burned, and active minutes; and Fitbit Flex 2, a water-resistant fitness wristband that tracks pool swims comprising laps, duration, and calories burned in the Fitbit App. It currently has negative earnings. It also provides Fitbit Alta, a customizable wristband that offers call, text, and calendar notifications when paired with the userÂ’s phone and SmartTrack automatic exercise recognition; Fitbit Charge 2, a wireless heart rate and activity wristband; Fitbit Blaze, a smart fitness watch that provides multi-sport functionality, tracks outdoor cycling activity, and run cues; and Fitbit Surge, a fitness watch that features a GPS watch, heart rate tracker, activity tracker, and smartwatch.

Analysts await Fitbit, Inc. (NYSE:FIT) to report earnings on May, 2. They expect $-0.27 EPS, down 8.00% or $0.02 from last year’s $-0.25 per share. After $-0.12 actual EPS reported by Fitbit, Inc. for the previous quarter, Wall Street now forecasts 125.00% negative EPS growth.

The stock increased 3.87% or $0.19 during the last trading session, reaching $5.1. About 4.91 million shares traded. Fitbit, Inc. (NYSE:FIT) has declined 14.24% since April 2, 2017 and is downtrending. It has underperformed by 25.79% the S&P500.

Among 29 analysts covering Fitbit (NYSE:FIT), 5 have Buy rating, 3 Sell and 21 Hold. Therefore 17% are positive. Fitbit has $79 highest and $4.5 lowest target. $16.40’s average target is 221.57% above currents $5.1 stock price. Fitbit had 90 analyst reports since August 6, 2015 according to SRatingsIntel. Barclays Capital maintained it with “Overweight” rating and $24 target in Wednesday, February 24 report. The rating was maintained by Leerink Swann on Thursday, August 6 with “Outperform”. The rating was maintained by Morgan Stanley on Friday, October 20 with “Equal-Weight”. Longbow downgraded Fitbit, Inc. (NYSE:FIT) on Thursday, November 3 to “Neutral” rating. Leerink Swann maintained the stock with “Market Perform” rating in Thursday, November 3 report. The firm earned “Neutral” rating on Thursday, November 3 by Citigroup. The stock of Fitbit, Inc. (NYSE:FIT) earned “Market Perform” rating by Cowen & Co on Thursday, September 10. Oppenheimer maintained Fitbit, Inc. (NYSE:FIT) rating on Monday, August 28. Oppenheimer has “Buy” rating and $8.0 target. As per Tuesday, January 31, the company rating was downgraded by Citigroup. Barclays Capital upgraded Fitbit, Inc. (NYSE:FIT) on Monday, November 30 to “Overweight” rating.

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